Simplify Medical Raises $21M
Simplify Medical announced the closing of a $21 million Series B round of financing. The round was led by LSP (Life Sciences Partners), who were joined by Sectoral Asset Management and returning investor M.H. Carnegie. Funds will be used to support two ongoing U.S. pivotal clinical trials of the Simplify artificial cervical disc. The studies are currently enrolling patients with cervical degenerative disc disease to undergo treatment at one level and two adjacent levels of the spine.
The Simplify disc is unique because it is constructed from PEEK endplates and a ceramic composite core, so there is no risk of metal wear. Further, metal artifact from artificial discs with metal components can make the spine challenging to evaluate on MRI after surgery, meaning patients would require CT and thus be exposed to ionizing radiation. The materials used in the Simplify disc are MRI-compatible.
The Simplify disc has received the CE Mark, and the company notes that the device has been used to treat more than 700 patients outside the U.S. over the last three years. Simplify has not announced when they expect to receive FDA approval for the device.
Posted July 25, 2017